Posts By: Zinner & Co.
Do You Have an HSA? What you need to know about the 2018 limits
The 2018 health savings account (HSA) guidelines were recently released by the Internal Revenue Service (IRS). These guidelines outline the inflation-adjusted contribution, deductible, and out-of-pocket spending limits for Health Savings Accounts (HSAs) and high-deductible health plans (HDHPs) for calendar year 2018. 
Employers: $1 billion Headed Your Way in July
From the Ohio Bureau of Workers’ Compensation news desk
June 15, 2017
Ohio’s economy will get a big boost in July. That’s when the BWC will send $1 billion in rebates to eligible Ohio employers, the first part of The Third Billion Back plan that was announced in March.
Patience is a Virtue: Why you need to (still!) wait to receive your tax refund
For the taxpayers who went through the painstaking process of sifting through their shoebox full of receipts in the attempt to file their income tax return early, we have to offer you a gentle and friendly reminder that refunds stemming from returns claiming the Earned Income Tax Credit or the Additional Child Tax credit will be delayed until February 15.
Pay Me Now, Pay Me Later: Should you pay quarterly estimates or utilize tax withholdings?
Many clients ask if it is more advantageous to pay quarterly tax estimates or utilize their tax withholding. I wish there were a simple, cookie-cutter answer. However, as no two taxpayers are alike, the same goes for the manner in which one can pay one’s taxes.
Both methods of paying income tax have their pros and cons. The best selection depends on your personal preference and, more so, financial situation. A majority of self-employed individuals must utilize quarterly payments. However, if you have an income source such as retirement distributions, social security or employee wages, you have the option of withholding tax from those income streams in lieu of paying quarterly. read more…
Help! I can’t remember all my Pa$$woRds!
Q: I am fed up and frustrated trying to keep—and remember passwords that are both complex and creative for both home and my work. This is frustrating and I am at my wits end. What can I do to make it easier for me to remember but more secure against attacks?
When Sallie Mae is on Your Personal Payroll
Now that income tax filing season is behind us, it is not too early to plan and prepare for 2018. For many taxpayers, the idea of an income tax refund of any amount is welcome, anticipated, and often needed. 
Few people think that they have “too much” money, and as taxpayers continue to receive their IRS income tax refund, folks begin to consider paying off credit cards or making a large purchase. Sadly, however, when Sallie Mae is on one’s personal payroll, that shopping spree or big screen TV may be just a virtual reality. Sallie Mae is the nation’s saving, planning, and paying for college company. Their mission is to help American students and families make the dream of higher education a reality through borrowing.
According to a recent article in Time Magazine, about 8 million (education loan) borrowers have given up paying on more than $137 billion in education debts.
What does this mean? If a taxpayer has defaulted on their federal student loans, their refund may not be issued and instead, applied to what is called a tax refund offset.
Ask the Expert: Am I Being an Effective Board Member?
Chris Valponi, CPA
Audit and Assurance Manager
Q: I volunteer as a Board member for a mid-sized not-for-profit. At times, I feel that I am just going through the motions of reviewing and approving the balance sheet or the Treasurer’s report during our monthly board meeting. Are there duties that I could take on to be a more effective board member?
Pat M. – Volunteer board member, Cleveland
Charitable Giving: Are You Doing Harm by Doing Good?
Leaving a philanthropic gift to a charitable organization can be a rewarding experience, both for the donor and the designated organization.
read more…Money: When is Enough Enough?
Financial planning is one of the most important (if not the most important) and concerning money topics that many folks share. How much should you have saved by a certain age? Should new parents start to save now for their newborn baby? How does one really plan for and define wealth?
What many keep quiet about during the day is what keeps them up at night. According to a 2016 Gallup poll, not having enough money for retirement remains a top concern (64%) when it comes to financial woes and 37% of Americans worry about not having enough money to pay for their children’s college.
But, how much do YOU need? While there are many thoughts, theories, and percentages out there, the Zinner team offers customized financial reports to help folks plan and project budgets for retirement, education planning, and increasing their net worth.
Senior Tax Manager Gary Sigman commented: “We work closely with our clients to provide a realistic view of the both what is happening today with respect to income, investments, and expenses, and then look at the longer-term goals. We have the ability to input figures based on various financial scenarios, making comes to planning an effective financial future.”
Since 1938, Zinner has counseled individuals and businesses from start-up to succession. At Zinner, we strive to ensure we understand your business and recognize threats that could impact your financial situation.
Tax Planning for the Paycheck Protection Program
During the COVID-19 pandemic, the need to plan for taxes has become even more important due to all the changes from recently passed coronavirus relief legislation and especially for those businesses seeking forgivable loans through the Paycheck Protection Program...
Zinner & Co. Staff Members Share Silver Linings
Since April, Zinner & Co. staff members have held weekly Zoom meetings. As part of the discussion, staff members talked about the “silver linings” that they have found during the COVID-19 pandemic. Here are a few of the notable positive actions and thoughts to...
Zinner & Co. Clients Share Their Silver Linings
Since April, Zinner & Co. staff members have worked hard to maintain regular communication with their clients during the COVID-19 pandemic. During some of our conversations, we have heard many uplifting stories of how our clients are making the most of the “Stay...
Zinner & Co. Staff Continues to Work Remotely to Meet Your Needs
During the current “Stay at Home” issued by Ohio Gov. Mike DeWine, Zinner & Co. staff are working remotely to meet the needs of all of our clients. Thanks to the efforts of all Ohioans, in April we have successfully “flattened the curve” and avoided overwhelming...
Zinner & Co. Interns Succeeded During Challenging Tax Season
For three Zinnner & Co. interns, their internships were ones they will likely never forget, as they had to overcome a challenging tax season. When their internships began, Allen Li (Case Western Reserve University), Kyoko Tosi (Kent State University) and Brett...
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